Bailey speech: There is evidence of encouraging progress on inflation
|In an interview with BBC on Friday, Bank of England (BoE) Governor Andrew Bailey said that “There is evidence of encouraging progress on inflation, we have to be vigilant.”
Additional quotes
“I'm very relieved that inflation is no longer rising like it was last year. “
“Companies should bear in mind that BoE forecasts inflation will fall.”
“I do not have evidence that companies are putting prices up more than necessary.”
“Risk of recession this year has gone down quite a lot.”
“Pretty strong likelihood we will avoid recession this year.”
Market reaction
GBP/USD is unable to take advantage of the upbeat remarks from the BoE Chief amid expectations of a rate hike pause in May. The pair is losing 0.35% on the day to trade at 1.2240, as of writing. Markets await the UK PMIs for fresh impetus.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.